I've spent over 20 years inside the betting industry. I'll guide you to avoid the hype, ignore the noise, and steer clear of the common pitfalls that catch out everyday punters.
- Diesel Already hit Record Highs - Petrol to follow
- Only 30% chance with bookmakers in September that record high would be hit
- 142.7p is the record bar with some reports the price is already being charged.
Back at the end of September we reported that some bookmakers were offering odds on whether a record high would be seen for petrol prices at the pumps.
At the time the odds on record highs being reached were just 30% or around 5/2 in betting odds terms. Anyone betting £100 on that outcome would get £350 back should the record be broken.
Enough to buy a couple of full tanks at least.
As November is upon us things have completely switched around following Diesel prices hitting all time high with petrol expected to follow, and now bookmakers are so sure records will be broken that they have stopped taking bets on record-high prices, with a probability of 97.09% and odds of 1/33
That betting £33 to win £1
Petrol Price Betting Odds
Will the average petrol pump prices surpass the all-time high of 142.7p per litre at any point in 2021?
| Yes or No | Odds | Probability |
|---|---|---|
| Yes | 1.03 (33/1) | 97.09% |
| No | 31 (30/1) | 3.33% |
Switch
The odds were totally reversed back in September and this chart displays how those probabilities have completely turned around from No being the favoured outcome to Yes being almost certain now.
